Board OKs Charleston capital projects
The South Carolina State Ports Authority board of directors approved a fiscal year 2006 budget and two-year capital projects plan that provides $159 million in improvements, including a series of projects expected to improve operating efficiencies at the Port of Charleston container facilities.
With growth from new markets bolstering the traditionally strong transatlantic trade, port officials say demand is sufficient to warrant continued expansion.
'Demand for services through the Port of Charleston is obviously solid,' said Bernard S. Groseclose Jr., president and chief executive officer of the port authority. 'Beyond growth in China trade, there's strength in the Latin American, Indian and trans-Atlantic markets.'
The port authority said Charleston set an all-time container volume record in May, handling 182,214 TEUs of containerized cargo, an increase of 12 percent over May 2004. For the fiscal year to date, volumes are up 14 percent.
Major projects in the two-year capital projects plan include $42 million for improvements to container yards, $31 million for four new container cranes, $22 million for container handling equipment and $20 million in security enhancements.
In addition to those improvements, there are two major, long-term projects set for the port authority. Those include a three-berth, 280-acres container terminal in the Port of Charleston, and proposed development of a new container facility on the Savannah River in Jasper County.